Income Tax Refunds In Chapter 7 Bankruptcy
Can you keep your tax refund if you file a Chapter 7 case? It’s mostly a matter of timing. Here are the bullet points: Everything you own at the time your Chapter 7 bankruptcy case is filed becomes your “bankruptcy estate.” Usually, most or all of that “estate” stays in your possession and you get... Read More...
Writing Off Income Taxes Forever through Bankruptcy
What income taxes can a Chapter 7 bankruptcy completely write off? Chapter 13 lets you pay off certain income taxes much more conveniently because you’re protected from the tax collector and can usually avoid paying substantial amounts of interest and penalties. But that’s for taxes you can’t write off. What exactly does it take to... Read More...
Getting rid of taxes through a Chapter 13 bankruptcy requires you to complete a plan
A Chapter 13 case can be such a good tool for dealing with income tax debt, especially if you owe more than just a year or two of taxes. BUT, you lose those benefits if you don't successfully finish paying off the Chapter 13 plan. So, go into it only if you have both a burning desire to make it all the way, and a truly feasible plan with which to do so...
Kalispell Bankruptcy Lawyer – Don’t Hire One Without Considering The Following…
Looking for a Kalispell Bankruptcy Lawyer? Below are a few things you should consider prior to selecting one. Since the 2008 nationwide economic downturn, the number of Kalispell bankruptcy lawyers has increased significantly. When choosing a bankruptcy lawyer, you need to be aware of the many issues surrounding the bankruptcy practice. If you are facing... Read More...
Exemptions in Bankruptcy
Filing a bankruptcy does not mean you will lose all your property. Exemptions are provided to every person who files a bankruptcy, which allows the filer to keep the property that property. In order to take full advantage of the exemptions available to you, you should contact an attorney well versed in pre-bankruptcy planning and has... Read More...
The Basics of a Chapter 7 Bankruptcy
Filing a bankruptcy is sometimes a sound financial option for individuals or businesses (“debtors”) that are over-extended, have tried financial counseling, cannot make the necessary payments to decrease their loan/credit balances, or cannot pay their basic living/operations expenses. Chapter 7 and Chapter 13 are two of the most common bankruptcy chapters available. Your income, expenses, assets,... Read More...
